A sales progression and conveyancing network business has raised the fees for its firms and has called on the industry to support conveyancers in increasing their fees.
Yorkshire-based Assured Sale and Progression Ltd (ASAP) have increased fees in an effort to give solicitors the financial backing required to consistently provide high-quality legal services to buyers and sellers throughout the transaction process.
The move comes at a time when many solicitors are facing challenges in appropriately resourcing the number of transactions they are receiving while providing consistently high service levels. With average industry transaction times standing at roughly 6 months from instruction to completion, the provision of high-quality legal services is essential to keeping pipelines moving in the current market conditions.
Richard Megson, Managing Director of Assured Sale and Progression said the following about the fee increase:
“At ASAP we have been delighted with how our network of solicitors has performed over the last 2 years. That said, it is imperative that we continue to support solicitors during challenging times, ensuring their fees reflect the harsh market conditions that Conveyancers are facing up and down the country.”
“Based on the discussions we’ve had with many of the Estate Agents we work alongside, it’s clear that a reliable legal service is a much bigger priority at present than concerns around fees. As such, we feel that a raise in legal fees is not only important but necessary moving forward.”
Assured Sale and Progression and their Conveyancing Network have been able to maintain an eight-week positive differential on the average industry transaction times throughout the pandemic and the post-pandemic fallout. Much of this can be attributed to the close working relationship between their expert sales progressors and their Conveyancing Network.
Chloe Jensen, Legal Manager at Assured Sale and Progression discussed the fee update further saying:
“With the timescales between instruction and completion across the industry extending to around 6 months, it is increasingly important for Conveyancers to proactively progress cases. With the support of the ASAP sales progressors, our Conveyancing Network will now not only benefit from the fee increase but will also receive the fees in a much shorter timeframe.”
5 Responses
One might argue that panels have no choice at the moment, as the boot is currently on the other foot. They can’t get enough ‘good’ firms to join them.
It’s our experience that law firms in general are struggling with finding good conveyancing staff. It strikes me as a good move to pay for the talent who show up, deliver and are professionals delivering conveyancing. A panel may be a great source of income for some firms, particularly ones who want to keep their talented staff happy and secure. It’s not a panel against law firms industry, it’s a panel and law firm together make an improvement to the overall customer experience and outcome. There is room in the market for all types of businesses. Live and let live!
Perhaps instead of increasing fees, more support is provided to Solicitors and Conveyancers in their costs as to the indemnity insurance. The costs of indemnity insurance are prohibitive to the growth of the business and the implementation of new technology and ways of working. If the transaction turnaround times can also be reduced, firms can extract their pipeline’s much quicker resulting in a more stable income on a month to month basis. Increasing fees does little to resolve underlying problems.
If agents wish to speed up the conveyancing process stop calling/emailing the conveyancer requesting progress reports. Every such call/email distracts the conveyancer from actually progressing the matter.
Alas, more reason to work with a panel, calls and emails are 90-99% less and work flows faster as a result. Open a file, update the hub, all parties get altered, close the file, move on. Field any questions from the action through the hub and not on email or phone. Easy Peasy, if you’re getting too many phone calls and emails – consider joining a panel and get them to deal with the mundane, get on with the legal work.